[David G4EBT]

I'd have thought a water-slide transfer, and as Tony says, many years of exposure to sunlight.

Someone on the forum - I don't know who - uploaded a scan, though it lacks the Royal Warrant. (I wouldn't know when that was granted). The scan isn't very high resolution, and unfortunately, I don't think it would have much opacity on a dark background if printed on clear decal paper and the white areas of the dog wouldn't be white - they'd be transparent. The 'picture frame' image of 'Nipper' and the horn would print fine on white waterslide decal paper, cut to the edges of the image so no white was showing, but the lettering would end up on a white background, so wouldn't be satisfactory.

Worth experimenting with though.

I've attached a second circular HMV scan - maybe for a speaker horn - which also came from a forum member.

Again, it's low resolution, though for a small transfer might look OK should anyone be stuck for a scan.

Ink jet printers print quite a good imitation of gold - good enough to fool the eye. (Well my eyes, anyway!).

To take a philosophical view, the antique trade would view the crazing and fading as 'patina' and leave well alone.